Zacks Investment Research upgraded shares of Great Elm Cap C (NASDAQ:GECC) from a hold rating to a buy rating in a research report sent to investors on Friday. They currently have $10.00 price objective on the financial services provider’s stock.
According to Zacks, “Great Elm Capital Corp. is a diversified investment company. Its business line consists of investment management, financial products and merchant banking. Great Elm Capital Corp. is based in Baltimore, Maryland. “
Separately, Janney Montgomery Scott initiated coverage on Great Elm Cap C in a research report on Monday, November 6th. They set a neutral rating and a $12.00 target price for the company.
Great Elm Cap C (NASDAQ:GECC) opened at $9.50 on Friday. Great Elm Cap C has a 52-week low of $8.76 and a 52-week high of $11.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.61 and a quick ratio of 0.61.
Great Elm Cap C (NASDAQ:GECC) last posted its earnings results on Monday, August 14th. The financial services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.09. The business had revenue of $6.24 million for the quarter, compared to analysts’ expectations of $5.20 million. equities analysts anticipate that Great Elm Cap C will post 1.16 earnings per share for the current fiscal year.
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In other news, major shareholder Mast Capital Management, Llc sold 59,676 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $10.65, for a total value of $635,549.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 334,105 shares of company stock valued at $3,469,865 over the last quarter.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Great Elm Cap C by 1.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 50,669 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 871 shares in the last quarter. Moloney Securities Asset Management LLC bought a new stake in shares of Great Elm Cap C in the 2nd quarter valued at about $112,000. GRT Capital Partners L.L.C. bought a new stake in shares of Great Elm Cap C in the 2nd quarter valued at about $237,000. Royal Bank of Canada bought a new stake in shares of Great Elm Cap C in the 2nd quarter valued at about $512,000. Finally, Quantum Capital Management bought a new stake in shares of Great Elm Cap C in the 3rd quarter valued at about $512,000. Hedge funds and other institutional investors own 10.01% of the company’s stock.
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